MAUI COMMUNITY COLLEGE
COURSE OUTLINE
1.
Alpha and Number
Business 150
BUS 150
Course Title
Personal Finance
Credits
3
Date of Outline
October 21, 2003
2.
Course Description
Introduces financial planning, money
management, and tax planning. Includes
financing real and personal property, purchasing
insurance and managing investments.
3.
Contact Hours/Type
3 hours/lecture
4.
Prerequisites
ENG 19 with at least a C, or English placement at
ENG 22 and MATH 20/22 or BUS 155 with at
least a C, or placement at MATH 23 or 24, or
consent
:
Corequisites
Recommended Preparation
APPROVED BY__________________________________DATE___________________
5.
General Course Objective
The purpose of this course is to provide a basic foundation in personal finance.
The student will acquire the fundamental knowledge to manage his or her financial
affairs effectively in our dynamic and capitalistic society. Topics include risk and
return, time value of money, tax planning, consumer loans, buy versus lease
decisions, and stock and bond valuation.
6.
Student Learning Outcomes
For assessment purposes, these are linked to #7. Recommended Course Content:
Upon completion of this course, the student will be able to
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
k.
l.
m.
n.
o.
p.
q.
r.
s.
t.
u.
v.
w.
x.
Describe the five basic steps of personal financial planning;
Describe the different stages of the financial life cycle;
Identify and explain the 15 principles of personal finance;
Calculate net worth by using a personal balance sheet;
Analyze cash flow, and calculate financial ratios to determine one’s financial
strengths and weaknesses;
Explain the importance of time value of money, and calculate present value,
present and future value of an annuity;
Identify the major income tax features that affect most taxpayers;
Determine taxable income and explain how taxes are determined;
Identify the various cash management alternatives and discuss the advantages
and disadvantages of each;
Explain how credit cards work and the costs that are involved;
Identify and explain what determines an individual's credit rating;
Identify the various consumer loans and discuss methods to control debt;
Calculate the costs of consumer loans;
Determine when it is better to buy, lease or rent;
Describe the major types of insurance coverage;
Discuss the tax effect on various investments;
Calculate rates of return on investments;
Identify the various investment risks and returns;
Measure portfolio risk;
Identify and describe the primary and secondary security markets;
Define the basic terminology associated with common stocks and bonds;
Describe the various risks associated with investing in common stock;
Calculate the value of a bond; and
Identify the various retirement planning options.
7.
Recommended Course Content and Approximate Time Spent on Each Topic
Linked to #6 Student Learning Outcomes
1-2 Weeks: Introduction to Financial Planning (a, b, c)
1-2 Weeks: Measuring Financial Wealth (d,e)
1-2 Weeks: Time Value of Money (f)
1-2 Weeks: Tax Planning and Strategies (g, h)
1-2 Weeks: Liquid Asset Management (i)
1-2 Weeks: Managing Credit (j, k)
1-3 Weeks: Consumer Loans (l, m, n)
1-2 Weeks: Life, Health, Property Insurance (o)
1-4 Weeks: Investments and Security Markets (p, q, r, s, t, u, v, w)
1-2 Weeks: Retirement Planning (x)
0-1 Weeks: Special Topics
8.
Text And Materials, Reference Materials, Auxiliary Materials, and Content:
Texts:
Personal Finance, Keown, Prentice Hall, 3rd ed. 2003
Personal Finance, Garman and Forgue, Houghton Mifflin, 2000
Materials:
Text may be supplemented with:
Articles and/or handouts prepared by the instructor
Magazine or newspaper articles
Other:
Appropriate films, videos, and internet sites
Guest speakers
9.
Recommended Course Requirements and Evaluation:
Specific course requirements are at the discretion of the instructor at the time the
course is being offered. Suggested requirements might include, but are not limited
to:
Examinations
In-class exercises
Homework
Quizzes
Projects/research
Attendance and or class participation
10.
40-80%
0-30%
0-30%
0-30%
0-40%
0-20%
Methods of Instruction:
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
k.
l.
m.
n.
o.
Lectures and class discussions
Quizzes and other tests with feedback and discussions
Problem solving
PowerPoint presentations
Videos, DVDs, CD-Rom's
Guest speakers
Group activities
Oral reports and other student presentations
Games and simulations
Homework assignments, such as
 Reading, or watching, and writing summaries and reactions to financial
issues in the media including newspapers, videos, magazines, journals
 Reading text and completing problems and activities from text
Web-based assignments and activities
Reflective journals
Group and/or individual research projects with reports or poster presentations
Study logs and study groups
Service-Learning, community service, and/or civic engagement projects; and
other contemporary learning techniques (such as problem-based learning)